Offshore Driller With $7.5 Billion Backlog Sees $6 Million Investor Trim Amid Staggering Stock Surge

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Jonathan Ponciano, The Motley Fool

Sun, March 15, 2026 astatine 5:07 PM CDT 4 min read

Kerrisdale Advisers disclosed successful a February 17, 2026, SEC filing that it reduced its involvement successful Noble Corporation plc (NYSE:NE), selling 204,364 shares successful a commercialized estimated astatine $6.04 cardinal based connected quarterly mean pricing.

According to a recent SEC filing dated February 17, 2026, Kerrisdale Advisers, LLC reduced its holdings of Noble Corporation by 204,364 shares. The estimated transaction worth is astir $6.04 million, based connected the mean terms during the 4th fourth of 2025. At quarter-end, the fund’s remaining presumption was 147,621 shares, with a reported worth of $4.17 million. The nett presumption worth fell by $5.79 cardinal implicit the quarter.

This was a merchantability transaction; the Noble Corporation involvement present represents 1.96% of Kerrisdale’s 13F reportable AUM.
Top 5 holdings aft the filing:
- NYSE:TDS: $20.75 cardinal (9.8% of AUM)
- NASDAQ:MELI: $17.25 cardinal (8.1% of AUM)
- NYSE:SYY: $15.57 cardinal (7.3% of AUM)
- NYSE:V: $13.84 cardinal (6.5% of AUM)
- NASDAQ:ACMR: $10.39 cardinal (4.9% of AUM)
As of Friday, Noble Corporation shares were priced astatine $46.30, up 106% implicit the anterior twelvemonth and importantly outperforming the S&P 500’s astir 20% summation successful the aforesaid period.

Metric

Value

Price (as of Friday)	$46.30
Net income (TTM)	$216.72 million
Dividend yield	4%
1-year terms change	106%

Noble Corporation provides offshore declaration drilling services to the lipid and state industry, operating a fleet of mobile offshore drilling units including floaters and jackups.
The steadfast generates gross done declaration drilling services provided to the lipid and state industry, leveraging its fleet to enactment exploration and accumulation companies.
It serves the lipid and state manufacture worldwide.

Noble Corporation plc is simply a starring offshore drilling contractor with a planetary beingness and a modern fleet designed to service divers lawsuit needs.

After a banal much than doubles successful a year, trimming a presumption often reflects portfolio subject alternatively than a abrupt nonaccomplishment of conviction, and that seems to beryllium the lawsuit here. Noble has been 1 of the stronger performers successful the offshore drilling abstraction arsenic rising offshore enactment and tighter rig proviso pushed time rates higher and boosted capitalist sentiment astir the sector.

The company’s caller fiscal results assistance explicate that enthusiasm. In the 4th quarter, Noble generated $764 cardinal successful full revenue, including $705 cardinal from declaration drilling services, portion reporting $87 cardinal successful nett income. For the afloat year, the institution delivered $3.29 cardinal successful operating gross and $216.7 cardinal successful nett income, reflecting stronger offshore request and improving operating leverage crossed its fleet.

Just arsenic important, Noble continues to fastener successful aboriginal work. Management precocious added astir $1.3 cardinal successful caller declaration awards, pushing full backlog to $7.5 cardinal and giving the institution important gross visibility heading into the adjacent fewer years.

Within the broader portfolio, the reduced presumption present sits alongside holdings spanning telecom, payments, e-commerce, and semiconductor instrumentality — a premix that suggests the involvement whitethorn person been partially reduced aft a beardown tally alternatively than a wholesale displacement distant from vigor exposure.

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